Eagle's mutual fund accounting solution allows you to perform intraday NAV processing. You can use intraday NAV processing for any money market funds that choose to value their Net Asset Amount several times throughout the day.
In July 2014, the SEC adopted amendments to the SEC Rule 2a-7 governing Money Market Funds. These amendments were designed to reduce risks associated with investor runs on money market mutual funds. The amendments passed by the SEC now require institutional prime money market funds to use market prices for securities with greater than 60 days to maturity resulting in a floating NAV calculation. The floating NAV is now calculated multiple times per day.
Each intraday NAV period has capital stock transactions, market trades, and pricing valuation updates processed. Intraday reporting provides you with the details of the intraday valuations and shows you what transactions were processed for each NAV period.
In this section
No labels
0 Comments
You are not logged in. Any changes you make will be marked as anonymous. You may want to Log In if you already have an account.
0 Comments